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Most important is putting money power back in public hands where it belongs. Doing so ensures long-term, inflation-free prosperity. It's possible with minimal taxes on ordinary people.
Good policy isn't rocket science. It's time-tested effective. What worked in other countries and colonial America can be replicated now. Both parties reject it. They have other fish to fry.
Their plans involve thirdworldizing America. Political theater will unveil it step by step. Obama agreed to $1.2 trillion in largely domestic yearend cuts.
Boehner raised his initial $800 billion to $1 trillion. Expect agreement on around $1.1 trillion. Simpson-Bowles recommended it two years ago for starters. All parties have much more in mind.
Boehner's on board for modest tax increases on incomes of $1 million or more. Obama suggests $400 million. Expect compromise around $600 million. On average it's what America's 1% earns.
Word awaits on expected tax revenues raised v. bracket manipulation and specific spending cuts. Expect Medicare and Medicaid to be hit hard.
Final deal terms may mandate around $500 million cut from Medicare alone. Expect it mostly in higher Part B and Part D deductibles and copays.
Defense increases, not cuts, are planned. War profiteers rest easy. Reductions will come from weapons systems Pentagon officials don't want, overseas troop drawdowns, and veterans benefits most of all.
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